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03 Jun 2012, 22:08

Hello everyone, I've been browsing this forum for a while as I'm interested in getting my mba. I'm wondering about where I stand as far as schools I can get accepted to. I have a ugrad gpa of 3.0 in finance from a state university with a fairly good business program. I was president of my fraternity which had the highest gpa on campus. I have 1 year of experience working in real estate and 2 years of experience in retail banking and have had success in both. I haven't taken the gmat or gre yet as I'm just starting to research, however I have always done very well on standardized testing. I'm male and not a minority btw. Would I stand any chance for a tier 1 or 2 school? I have also been considering taking some mba classes as a non matriculating student locally, assuming I had a high gpa in that how much would that boost my chances?

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04 Jun 2012, 05:54

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spookys6 wrote:

Hello everyone, I've been browsing this forum for a while as I'm interested in getting my mba. I'm wondering about where I stand as far as schools I can get accepted to. I have a ugrad gpa of 3.0 in finance from a state university with a fairly good business program. I was president of my fraternity which had the highest gpa on campus. I have 1 year of experience working in real estate and 2 years of experience in retail banking and have had success in both. I haven't taken the gmat or gre yet as I'm just starting to research, however I have always done very well on standardized testing. I'm male and not a minority btw. Would I stand any chance for a tier 1 or 2 school? I have also been considering taking some mba classes as a non matriculating student locally, assuming I had a high gpa in that how much would that boost my chances?

If you're going to take classes to create an alternate transcript, don't take MBA ones. The credits won't transfer to whatever program you matriculate into. You're fine taking college level courses in stats, economics, calculus, etc.

On first glance you seem to have a viable shot at a Tier 2 school at the least, maybe the lower end of tier 1 too. It would really depend on your roles within real estate and retail banking and what bank you work for. Your best indication of where you could end up is where your peer set gained admission. If no one at your employer is getting into top 25 schools it's a safe bet that you won't be blazing that trail. If several have gone to tier 1 schools then you should have a shot at it too. Business schools especially the top 10 tend to choose people based on the selectivity of their employer and the job they have at that employer. I would say that's even more important than the GMAT. You can get an 800 on the GMAT but if you're working as a bank teller you're not getting into a top school. Hope this gives you a point of reference from which to start.
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04 Jun 2012, 13:21

Thanks for the reply. I'm a little confused on your first point though of taking undergrad classes rather than mba level, wouldn't I be better off taking a few grad level classes and getting a high gpa in them then undergrad? That way it would show that I can be successful at a graduate level? Also with my degree I have already taken quite a bit of econ, stats, etc. so it would seem to overlap. My work in real estate was as an agent for a real estate brokerage and in banking it was first as a personal banker then promotion to assistant branch manager, I am 25 btw. It's one of largest and most respected banks in the country. A program that is looking interesting to me is the UNC Chapel Hill MBA with concentration in real estate. That would seem to be a good fit and seems to hover around lower tier 1 and upper tier 2.Does anyone have any advice as to what other things may improve my chances such as pursuing certifications or anything like that?

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04 Jun 2012, 13:39

spookys6 wrote:

Thanks for the reply. I'm a little confused on your first point though of taking undergrad classes rather than mba level, wouldn't I be better off taking a few grad level classes and getting a high gpa in them then undergrad? That way it would show that I can be successful at a graduate level? Also with my degree I have already taken quite a bit of econ, stats, etc. so it would seem to overlap. My work in real estate was as an agent for a real estate brokerage and in banking it was first as a personal banker then promotion to assistant branch manager, I am 25 btw. It's one of largest and most respected banks in the country. A program that is looking interesting to me is the UNC Chapel Hill MBA with concentration in real estate. That would seem to be a good fit and seems to hover around lower tier 1 and upper tier 2.Does anyone have any advice as to what other things may improve my chances such as pursuing certifications or anything like that?

Unfortunately, there's a perception of grade inflation with graduate classes, so that stigma is one to avoid. I do have to make a slight adjustment to cheetarah's note about the transfer of credits. While pre-MBA credits rarely count toward your degree (I have seen that actually though, Kellogg's PT MBA is one example), they can help you waive out of core classes. Just be aware that the waiver requirements can vary greatly among schools.

I knew I was tied down for two years, so I did a full blown Master of Accounting as an alternate transcript, which contributed to me waiving out of 5 core classes at Ross. That's given me room to add a lot of electives, allowing me to pick more concentrations or go deeper into specific ones. I also don't feel like I wasted time or money taking marginally beneficial coursework.

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04 Jun 2012, 17:00

Yes, method is right, taking relavent courses will allow you to waive core classes (usually there is a test). Waiving a class doesn't give you credits, but it will allow you to replace them with electives (like method said). If you've already taken classes like stats and econ and done well in them (at least a B) then do not retake them. Honestly a 3.0 isn't a bad GPA. It's a B average. B's are good they just don't show excellence. If you were a straight B student (i.e. no failing grades or Ds) then I don't really think there is much to really offset. I am only saying, don't pursue the Masters in an attempt to mitigate your GPA. Do it cause you want the degree. If you still feel you need an alternative transcript maybe take some upper level undergrad classes in the quantitative areas previously mentioned. Maybe econometrics or decison sciences. Hope this helps.

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04 Jun 2012, 21:04

Well honestly, I'm not concerned with taking courses for credit, just courses to hopefully improve my application. I don't have much to improve in statistics and econ ( I was basically a B and A student in each). I can do classes in either undergrad or grad but I was pretty consistent in my undergrad... there is no glaring area where I feel I need improvement. What I was considering was taking a few mba classes at the local university (which is also where I received my BS in finance) to both improve my transcript and give me a feeling for how an mba suited me. Now I am aware of the grade inflation common in grad schools but I feel that if I get a respectable gpa it will be considered no matter what and give me a feeling of what I'm in for. Also, and I know this will open a HUGE can of worms, but my local university is a regionally respected up and comming business school, unranked however and will cost me around 10k. Compared to whatever $$$ other schools will cost. Now for me I can deal with the financial burden of just about anywhere, but unless the school gives me a big advantage, obviously I should go with my alma mater

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04 Jun 2012, 21:14

What they are saying is correct! I work retail banking and it's very important that you play up a lot of your leadership qualities and quant skills. So take one or two courses at a community college (it shows your commitment) and study for GMAT/GRE seriously. I won't say don't focus on Tier 2 schools but your school choices should be based on your long term goals. Remember that how you feel now probably won't be the same 3-5 years from now. So reach for the best to limit the regrets!!

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11 Jun 2012, 19:18

TRISTLW wrote:

What they are saying is correct! I work retail banking and it's very important that you play up a lot of your leadership qualities and quant skills. So take one or two courses at a community college (it shows your commitment) and study for GMAT/GRE seriously. I won't say don't focus on Tier 2 schools but your school choices should be based on your long term goals. Remember that how you feel now probably won't be the same 3-5 years from now. So reach for the best to limit the regrets!!

That's precise and gives the importance of choosing a long term goal as our thoughts would change in long run. Something which I thought to share.

gmatclubot

Re: Starting to think about business school
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11 Jun 2012, 19:18